A Review of Selected Methods to Determine the Economic Value of Forest: Polish Research

Abstract

Value is a multifaceted term, and for this reason, forest economics uses a set of various categories of forest value. Two basic categories of value, with which we deal in economics, are connected with market value and non-market value. Market value is specified by the market as a result of interactions of supply and demand. Occasionally, market value is referred to in Polish literature as exchangeable value and value in exchange. Non-market value is a value ascribed by consumers to a good or service, for which there is no real market. In such cases, many methods have been used over the years to appraise the value of forests. This study presents a synthetic review of scientific thought connected with forest valuation. Concepts of static and empirical schools are discussed, indicating the role of Polish scientists in the development of forest economics in terms of forest value appraisal.